Economic News

Fed and ECB prepare to tackle deflation head-on - Reuters - Mon 05 Jan, 01:09 AM
SAN FRANCISCO (Reuters) - Officials from the Federal Reserve and the European Central Bank on Sunday vowed to fight the damaging effects of deflation as the global economy suffers a deep and lengthy recession.

Nikkei to start year strong on Wall Street rise - Reuters - Sun 04 Jan, 11:22 PM
TOKYO (Reuters) - Japan's Nikkei average is set to rise on Monday, the first trading day of 2009, after Wall Street rallied on Friday to its highest levels since early November on hopes for a recovery in the U.S. economy later in the year.

Yellen says Fed can expand unconventional policies - Reuters - Sun 04 Jan, 11:12 PM
SAN FRANCISCO (Reuters) - The Federal Reserve is prepared to expand its unconventional policy measures, to support the U.S. economy, Janet Yellen, president of the San Francisco Federal Reserve Bank, said on Sunday.

Yellen says Fed far from out of policy tools - Reuters - Sun 04 Jan, 11:08 PM
SAN FRANCISCO (Reuters) - The Federal Reserve will use all of its tools, including unconventional policy measures, to support the U.S. economy and financial markets, Janet Yellen, president of the San Francisco Federal Reserve Bank, said on Sunday.

Papademos says ECB will not permit deflation - Reuters - Sun 04 Jan, 09:53 PM
SAN FRANCISCO (Reuters) - European Central Bank Vice President Lucas Papademos said on Sunday that more interest rate cuts may be needed to shield the euro zone economy and stressed that deflation would be kept at bay.

Merkel's coalition at odds over new stimulus plan - Reuters - Sun 04 Jan, 09:38 PM
BERLIN (Reuters) - The parties in German Chancellor Angela Merkel's government clashed on Sunday over new measures to shield Europe's largest economy from what threatens to be its deepest recession since World War Two.

Karen Millen owner may be in crucial debt talks - Reuters - Sun 04 Jan, 05:19 PM
LONDON (Reuters) - Mosaic, the owner of the Karen Millen, Oasis and Principles fashion brands, is to begin talks with its lenders, further evidence of the gloom on Britain's shopping streets, the Sunday Times reported.

Stimulus hopes vs bad data - Reuters - Sun 04 Jan, 04:56 PM
SAO PAULO (Reuters) - A slew of bad economic data is expected to keep emerging-market investors at bay this week, unless governments come to the rescue with additional stimulus packages to jolt the global economy out of recession.

FACTBOX - German plans for new economic stimulus package - Reuters - Sun 04 Jan, 04:56 PM
(Reuters) - German government leaders meet Monday to discuss a second package of stimulus measures to help Europe's biggest economy weather a deep recession.

Merkel's government at odds on new stimulus package 04:56 PM [ Reuters]
FACTBOX - German Chancellor Merkel's reversals in crisis 04:56 PM [ Reuters]
Economic crises sharpen Russia-Ukraine gas row 04:39 PM [ Reuters]
Pound falls versus euro 02:06 AM [ Reuters]
Stocks and dollar surge into 2009 09:28 PM [ Reuters]

House price drop biggest on record 06:27 PM [ ShareCast]
Mortgage approvals falls to record low 06:25 PM [ ShareCast]
Stocks and dollar put best foot forward into 2009 06:05 PM [ Reuters]
Economy enters 2009 on gloomy note 01:06 PM [ Reuters]
INSTANT VIEW - Mortgage approvals dive, credit set to tighten 10:20 AM [ Reuters]

Over 1,600 retailers expected to go bust in 2009 08:16 AM [ Reuters]
More economic pain seen in 2009 01:31 PM [ Reuters]
Shopper numbers jump as retailers slash prices 01:09 PM [ Reuters]
600,000 jobs could go in 2009 07:23 PM [ Reuters]
Russia's rouble policy carries risks 04:20 PM [ Reuters]

Warning over 2009 job cuts 11:10 AM [ ShareCast]
House prices fall 8.7% in 2008, 12% 2009 10:19 AM [ ShareCast]
China foreign debt rises to 300 billion 10:31 AM [ Reuters]
December sales "won't be pretty" 10:28 AM [ Reuters]
Japan output logs record fall 03:47 AM [ Reuters]

BRC says Dec retail sales figures "won't be pretty" 11:45 AM [ Reuters]
U.S. stocks up on hopes and bargains 07:05 PM [ Reuters]
U.S stocks rise on hopes and holiday bargains 06:49 PM [ Reuters]
Zavvi joins list of retail casualties 03:34 PM [ Reuters]
Canadian economy on track for recession 03:30 PM [ Reuters]

Japan approves biggest budget 02:06 PM [ Reuters]
U.S. jobless claims surge to 26-year high 01:52 PM [ Reuters]
U.S. new jobless claims surge to 26-year high 01:43 PM [ Reuters]
Germany may cap new stimulus plan at 24 billion 12:12 PM [ Reuters]
Japan approves record budget 10:25 AM [ Reuters]

Germany may plan 24 billion stimulus package 09:42 AM [ Reuters]
House prices to fall another 10% says RICS 08:10 AM [ ShareCast]
Dollar falls on economy worries 07:16 AM [ Reuters]
Economy shrinking faster than first thought 06:52 AM [ Reuters]
No Christmas cheer as U.S. recession gathers steam 04:16 AM [ Reuters]

Biden says deal near on U.S. economic stimulus plan 04:16 AM [ Reuters]
U.S. stores to ramp up closings and job cuts in early '09 04:14 AM [ Reuters]
Sterling falls as economy shrinks more than expected 03:11 PM [ Reuters]
U.S. Q3 GDP shrank 0.5 pct as economy chilled 02:34 PM [ Reuters]
Mortgage lending falls 60% 01:01 PM [ ShareCast]

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